A simple way to compare bank overdraft charges - updated 31 July 2014
Interest rate and or fees for authorised overdrafts | ANNUAL COST of being overdrawn by £300 for 3 days every month | ANNUAL COST of being overdrawn by £500 for 7 days every month | ANNUAL COST of being overdrawn by £1200 for 10 days every month | |
---|---|---|---|---|
First Direct (1st account) | Interest 15.9% EAR (First £250 interest free) | £0.78 | £9.15 | £49.66 |
M&S Bank | Interest 15.9% EAR (First £100 free) | £3.13 | £14.64 | £57.50 |
Post Office (Standard Account) | Interest 14.9% EAR | £4.41 | £17.15 | £58.78 |
Metro Bank (Personal Current account) | Interest 15.0% EAR | £4.44 | £17.26 | £59.18 |
Nationwide BS (FlexAccount) | Interest 18.9% EAR | £5.59 | £21.75 | £74.56 |
Tesco Bank | Interest 18.9% EAR | £5.59 | £21.75 | £74.56 |
HSBC (Bank Account) | Interest 19.9% EAR | £5.89 | £22.90 | £78.51 |
The Co-operative Bank (Current Account Plus) | Interest 18.9% EAR per month plus £20 per annum renewal charge | £25.59 | £41.75 | £94.56 |
Barclays | Fee 75 pence per day up to £1k Fee £1.50 per day to £2k and £3 per day over £2k | £27.00 | £63.00 | £180.00 |
Halifax (Reward) | Daily Fee £1 for overdrafts up to £1,999 - £2 per day £2000 to £2,999 and £3 for £3,000 plus | £36.00 | £84.00 | £120.00 |
Santander (123 Current Account) £2 monthly fee | Fee of £1 per day (max £20 per month) | £36.00 | £84.00 | £120.00 |
Norwich & Peterborough BS (Gold Classic) | Interest 17.9% EAR plus £5 fee per month | £65.30 | £80.60 | £130.62 |
Bank of Scotland (Classic) | Interest 19.94% EAR plus £6 fee per month. (First £25 int free subject to application) | £77.41 | £93.80 | £149.03 |
Lloyds Bank(Classic) | Interest 19.94% EAR plus £6 fee per month. (First £25 int free subject to application) | £77.41 | £93.80 | £149.03 |
NatWest (Select Account) | Interest 19.89% EAR plus £6 fee per month. | £77.89 | £94.89 | £150.47 |
Royal Bank of Scotland (Select) | Interest 19.89% EAR plus £6 fee per month. | £77.89 | £94.89 | £150.47 |
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